Noting that September 9 was the deadline for Foreign Portfolio Investors to disclose the beneficial owners of their holdings, the Congress on Wednesday asked SEBI if those implicated in the Adani matter have done so and why has it taken the capital markets regulator 18 months to enforce the new norm.
Congress general secretary in-charge communications Jairam Ramesh said it is September 11 today, two days after the SEBI’s September 9 deadline for Foreign Portfolio Investors (FPIs) – those who stand accused of holding concentrated portions of their equity portfolio in a single corporate group – to disclose the beneficial owners of their holdings.
“We had raised this issue a few days ago, in light of information that two Mauritius-based FPIs that were part of the revelations in the still-unfolding Modani mega scam, have petitioned the Securities Appellate Tribunal to seek urgent relief from complying with these new foreign investor norms,” he said in a post on X.
“Some questions to the
| Subscribe To Our Free Newsletter |
